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Seniors Give Their Advisors a Passing Grade

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Remember those good old fashioned school days and how at the end of every nine weeks or semester when you waited, maybe impatiently, for that dreaded report card to come in? Yeah, if you’re like me, you get chills just thinking about it.

Well, with that idea in mind, we hearkened back to those halcyon days and talked with seniors about their advisors. The good news is they like you; they really like you.

So, for the purposes of this small survey, we made it short and simple, asking a sampling of retirees one very important question: 

On a scale of one to 10, how would you rate your current financial advisor?

Oh, I’d probably give her an eight, eight-and-a-half. She’s done us pretty well, got us some life insurance with a pretty good yield and so forth. She talked us into some insurance to cover long-term disability, too, which we hope to never use, but it gives us some peace of mind, just in case. It’s been rough the last few years, of course, but that’s not her fault, and we know that. Yeah, she’s pretty good, all things considered.

Conroy, 81

Anaheim, Calif.

On a scale of one to 10, I would have to give our advisor a 10. He’s extremely sharp and knows what he is talking about. We were able to protect a lot of our assets from the horrible stock market crash. He had told us that we needed to limit our exposure due to our age, so we listened, and, boy, are we glad we did. Like I said, he’s very, very good at what he does, and—I don’t think my husband will mind if I say this—very good-looking, too.

Lara, 74

Baltimore, Md.

Well, I’m going to say nine. I would give him a 10, because he is very good at what he does, but there have been a couple of times when he could have been a little more patient with us. You know, we’re not young anymore, and sometimes we don’t understand everything right away the first time. And all that financial stuff is confusing. He’s in his late 30s, and sometimes when we have met with him, he seems to get a little irritated when we ask him to explain something. He’s not rude or anything, but I can just tell that he gets a little irritated.

Pamela, 71

Harbor Springs, Mich.

My current advisor gets an A-plus from me. He got us out of a lot of really bad investments that a previous advisor had sold us. What a crook that guy was. Every year he was buying and selling stuff just to get the commission. He was a real shyster—I hope he rots in hell. Thank God, we found [our current advisor]. He rescued us from a very bad situation.

Jon, 80

St. Charles, Mo.